Hong Kong unveils US$17.7bil package to save jobs as city battles coronavirus


HONG KONG (Reuters) - Hong Kong announced relief measures worth HK$137.5 billion (US$17.7 billion) on Wednesday to help businesses and people crippled by the coronavirus outbreak to stay afloat, as the city joins global efforts to cushion the impact of the pandemic.

Hong Kong leader Carrie Lam also pledged to take a pay cut of 10% for a year and said the government would pay 50% of workers' salaries for six months, with the monthly subsidy for each worker capped at HK$9,000.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

coronavirus , stimulus , Hong Kong

   

Next In Business News

M&A Securities and Newparadigm back Siab’s acquisition of Taghill with rights issue
Saudi Aramco maintains dividend despite lower net income in Q1
Pekat unit in negotiations over purchase of stake in electrical power solutions firm
Asia shares rise on rate cut bets; Aussie slips on RBA
UBS reports first profit since taking over Credit Suisse
Amazon to spend nearly US$9bil to expand cloud infra in Singapore
FBM KLCI pushes past 1,600
Ringgit opens higher against US$, other major currencies
KLK's recruitment issues to be short-lived, say analysts
Renewed bets on Fed cuts boost KLCI to 1,600

Others Also Read